New Record Set for World's Cheapest Solar, Now Undercutting Coal
Source: Bloomberg News
Solar power set another record-low price as renewable energy developers working in the United Arab Emirates shrugged off financial turmoil in the industry to promise projects costs that undercut even coal-fired generators.
Developers bid as little as 2.99 cents a kilowatt-hour to develop 800 megawatts of solar-power projects for the Dubai Electricity & Water Authority, the utility for the Persian Gulf emirate, announced on Sunday. That’s 15 percent lower than the previous record set in Mexico last month, according to Bloomberg New Energy Finance.
The lowest priced solar power has plunged almost 50 percent in the past year. Saudi Arabia’s Acwa Power International set a record in January 2015 by offering to build a portion of the same Dubai solar park for power priced at 5.85 cents per kilowatt-hour. Records were subsequently set in Peru and Mexico before Dubai reclaimed its mantel as purveyor of the world’s cheapest solar power.
“This bid tells us that some bidders are willing to risk a lot for the prestige of being the cheapest solar developer,” said Jenny Chase, head of solar analysis at BNEF. “Nobody knows how it’s meant to work.”
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Read more: http://www.bloomberg.com/news/articles/2016-05-03/solar-developers-undercut-coal-with-another-record-set-in-dubai
Suck it LePage and Koch Bros.
yup
= new reply since forum marked as read
My GOP representative said this would never happen and assured me that gasoline, coal, and other non-renewable fossil resources would always be less expensive. 
Almost makes me want to vote for the democrat next time, but I can't because it'll probably not be Ralph Nader and I only vote when he's on the ballot.
Instead of on wars in the Middle East, the US would be leading the way in solar and other alternative energy sources.
At this rate we'll still be reliant on the Middle East for cheap energy in the future. 
